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2021 gas tax rates and 2021 state gas tax rankings. How much is gas tax rates in each state. Which state has the highest gas tax rate.

How High are Gas Taxes in Your State?

California pumps out the highest state gas tax rate of 66.98 cents per gallon, followed by Illinois (59.56 cpg), Pennsylvania (58.7 cpg), and New Jersey (50.7 cpg).

2 min read
Asian pacific countries revenue loss. Tax revenue Africa. Tax revenue Asia. Tax revenue Latin America. 2021

Asian and Pacific Countries Faced Revenue Loss Prior to COVID-19 Outbreak

As economies are starting to recover and growth is expected to rebound in the region during 2021, Asian and Pacific countries should start exploring changes to their fiscal tax policies while carefully evaluating the optimal time for eliminating fiscal stimulus and temporary tax relief.

4 min read
billionaire playbook propublica sports owners deductions sports owners lowering tax liability sports deductions

Amortization Deductions for Sports Teams Properly Part of the Income Tax System

The media has reported on how wealthy taxpayers who own sports teams lower their tax liability by deducting the cost of purchasing a sports team over 15 years. Contrary to claims that deducting the cost of a sports team from taxable income is a “loophole,” such deductions are a normal and proper part of the income tax system.

3 min read
2021 sales tax holidays by state and 2021 sales tax holiday data 2021 tax free weekends

Does Your State Have a Sales Tax Holiday?

Although state budgets may be in unusual places this year, sales tax holidays remain the same as they always have been—ineffective and inefficient.

3 min read
The Compliance Costs of IRS Regulations

IRS Sends Nearly $15 Billion of Advance Child Tax Credit Payments

New Treasury Department data released on the advance Child Tax Credit payments shows the distribution by state, including how much, on average, households in each state received. The expansion will only be in effect for the 2021 tax year—if policymakers wish to continue providing the increased benefits, they must address the administrative and revenue costs of the policy.

4 min read
digital streaming services tax cutting cable

Cutting the Cord from Cable Has States Courting New Revenue Streams

If states wish to tax digital streaming and download services, they should do it the right way, by including them in their sales tax base—preferably as part of broader reforms paired with commensurate rate reductions—rather than inventing new excise taxes or shoehorning taxation of the new economy into outdated statutes.

4 min read

The State of State Income Taxes

On this episode of The Deduction, host Jesse Solis and Senior Policy Analyst Katherine Loughead explore how stronger-than-expected revenues and increased workplace flexibility have led to a wave of reforms aimed at enhancing tax competitiveness in states around the country.

state tax neutrality state tax treatment differs among industries state tax incentives

Even Within States, Tax Treatment Differs by Industry

States can enhance tax neutrality across industries by reforming tax structures that penalize certain business activity, leaning less on generous incentives, and focusing more on creating a tax code that provides for low and competitive burdens for all comers.

5 min read
universal basic income ubi andrew yang, means-tested transfers

States Respond to Strong Fiscal Health with Income Tax Reforms

As states close their books for fiscal year 2021, many have much more revenue on hand than they anticipated last year. Eleven states have responded by reducing income tax rates and making related structural reforms as they strive to solidify a competitive advantage in an increasingly competitive national landscape.

29 min read
wealthy inequality, pensions and social security, new research from federal reserve bank of boston Massachusetts ban on flavored cigarettes, Massachusetts ban on flavored tobacco

New Research Suggests Estimates of Wealth Inequality Likely Overstated

New research from Federal Reserve Bank of Boston economists suggests wealth inequality has grown less than previously estimated and that shares of wealth held by top earners drops significantly when accounting for sources of lower- and middle-class wealth that are often overlooked.

2 min read
Schumer marijuana bill recreational marijuana tax revenue by state

New Tax in Town? Federal Proposal to Deschedule and Tax Marijuana

Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban.

6 min read
US households saved their COVID-19 economic impact payments during the pandemic

Census Data Shows Households Saved Economic Impact Payments

In 2020 and 2021, Congress enacted three rounds of economic impact payments (EIPs) for direct relief to households amidst the pandemic-induced downturn. Survey data from the U.S. Census Bureau indicates that households increasingly saved their EIPs or used them to pay down debt rather than spend them.

5 min read